{"id":1938,"date":"2017-12-19T21:16:06","date_gmt":"2017-12-20T03:16:06","guid":{"rendered":"https:\/\/www.institutionalinvestorsecuritiesblog.com\/?p=1938"},"modified":"2022-03-22T15:07:53","modified_gmt":"2022-03-22T20:07:53","slug":"finra-cases-ex-lpl-broker-barred-not-disclosing-role-private-securities-transactions-merrill-lynch-fined-1-4m-extended-settlement-transactions-noble-capital-markets-agrees","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/finra-cases-ex-lpl-broker-barred-not-disclosing-role-private-securities-transactions-merrill-lynch-fined-1-4m-extended-settlement-transactions-noble-capital-markets-agrees\/","title":{"rendered":"FINRA Cases: Ex-LPL Broker is Barred for Not Disclosing Role in Private Securities Transactions, Merrill Lynch is Fined $1.4M For Extended Settlement Transactions, and Noble Capital Markets Agrees to Pay $225K for Failing to Disclose Conflicts to Investors"},"content":{"rendered":"<h2><strong>Former LPL Broker is Barred For Not Disclosing Private Securities Sales <\/strong><\/h2>\n<p>The Financial Industry Regulatory Authority announced a bar against Leslie Koonce, an ex-LPL(LPLA) broker. According to the self-regulatory organization, Koonce lied when he failed to disclose that he had engaged in private securities sales. Koonce allegedly pitched a private company\u2019s convertible promissory notes to at least 30 potential investors.<\/p>\n<p>The FINRA case contends that not only did Koonce help facilitate the transfer of $175K to at least three LPL customers so they could invest in the private securities, but also, he invested $50K of his own funds. All the while, said the SRO, Koonce failed to notify LPL in writing of his involvement in these transactions. When he filed out compliance questionnaires twice in 2012, Koonce denied any involvement in these types of transactions.<\/p>\n<p>LPL fired Koonce in 2015. He later went to work with Cetera and then EK Riley Investments. The ex-broker no longer works in the securities industry.<\/p>\n<p> <a href=\"https:\/\/www.investorlawyers.com\/blog\/finra-cases-ex-lpl-broker-barred-not-disclosing-role-private-securities-transactions-merrill-lynch-fined-1-4m-extended-settlement-transactions-noble-capital-markets-agrees\/#more-1938\" class=\"more-link\">Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Former LPL Broker is Barred For Not Disclosing Private Securities Sales The Financial Industry Regulatory Authority announced a bar against Leslie Koonce, an ex-LPL(LPLA) broker. According to the self-regulatory organization, Koonce lied when he failed to disclose that he had engaged in private securities sales. Koonce allegedly pitched a private company\u2019s convertible promissory notes to [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3953,3752,3739,3877,3800],"tags":[],"class_list":["post-1938","post","type-post","status-publish","format-standard","hentry","category-arbitration-rulings","category-financial-firms","category-finra","category-lpl-financial","category-merrill-lynch"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>FINRA Case: Ex-LPL Broker Barred For Role In Private Securities Transactions &#8212; Investor Lawyers Blog<\/title>\n<meta name=\"description\" content=\"In another FINRA case, an ex-LPL broker was barred for not disclosing his engagement in private securities transactions. Read more about the case here.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/finra-cases-ex-lpl-broker-barred-not-disclosing-role-private-securities-transactions-merrill-lynch-fined-1-4m-extended-settlement-transactions-noble-capital-markets-agrees\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"FINRA Case: Ex-LPL Broker Barred For Role In Private Securities Transactions &#8212; Investor Lawyers Blog\" \/>\n<meta name=\"twitter:description\" content=\"In another FINRA case, an ex-LPL broker was barred for not disclosing his engagement in private securities transactions. Read more about the case here.\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"FINRA Case: Ex-LPL Broker Barred For Role In Private Securities Transactions &#8212; Investor Lawyers Blog","description":"In another FINRA case, an ex-LPL broker was barred for not disclosing his engagement in private securities transactions. 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Read more about the case here.","twitter_misc":{"Written by":"Shepherd Smith Edwards &amp; Kantas, LLP","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/finra-cases-ex-lpl-broker-barred-not-disclosing-role-private-securities-transactions-merrill-lynch-fined-1-4m-extended-settlement-transactions-noble-capital-markets-agrees\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/finra-cases-ex-lpl-broker-barred-not-disclosing-role-private-securities-transactions-merrill-lynch-fined-1-4m-extended-settlement-transactions-noble-capital-markets-agrees\/"},"author":{"name":"Shepherd Smith Edwards &amp; Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"FINRA Cases: Ex-LPL Broker is Barred for Not Disclosing Role in Private Securities Transactions, Merrill Lynch is Fined $1.4M For Extended Settlement Transactions, and Noble Capital Markets Agrees to Pay $225K for Failing to Disclose Conflicts to Investors","datePublished":"2017-12-20T03:16:06+00:00","dateModified":"2022-03-22T20:07:53+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/finra-cases-ex-lpl-broker-barred-not-disclosing-role-private-securities-transactions-merrill-lynch-fined-1-4m-extended-settlement-transactions-noble-capital-markets-agrees\/"},"wordCount":691,"articleSection":["Arbitration Rulings","Financial Firms","FINRA","LPL Financial","Merrill Lynch"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/finra-cases-ex-lpl-broker-barred-not-disclosing-role-private-securities-transactions-merrill-lynch-fined-1-4m-extended-settlement-transactions-noble-capital-markets-agrees\/","url":"https:\/\/www.investorlawyers.com\/blog\/finra-cases-ex-lpl-broker-barred-not-disclosing-role-private-securities-transactions-merrill-lynch-fined-1-4m-extended-settlement-transactions-noble-capital-markets-agrees\/","name":"FINRA Case: Ex-LPL Broker Barred For Role In Private Securities Transactions &#8212; Investor Lawyers Blog","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#website"},"datePublished":"2017-12-20T03:16:06+00:00","dateModified":"2022-03-22T20:07:53+00:00","author":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"description":"In another FINRA case, an ex-LPL broker was barred for not disclosing his engagement in private securities transactions. 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